Vietnamese equities lead Asia-Pacific price gains in November

Vietnamese shares reached decade-highs and topped Asia-Pacific with the highest price gains in November, bolstered by rising foreign interest during the month.

Foreigners were net buyers of about $500 million of shares in the country’s stock market in November, the highest monthly purchases in at least seven years.

Singapore-listed Jardine Cycle & Carriage Ltd’s purchases of about $900 million in Vinamilk’s shares was seen as a positive for Vietnamese markets, with government aiming to trim its stakes in more state-owned firms.

Vietnam will also kick off the sale of a majority stake in Sabeco, the country’s biggest brewer, in December.

The Vietnam index rose more than 13 percent in November.

Hong Kong and Japanese shares rose more than 3 percent each in November.

Sri Lankan stocks led the losers with a fall of 3.11 percent, followed by China and Taiwan shares with declines of more than 2 percent.

South Korean, Malaysian, Thai, Philippine and Indian equities fell between 1 to 2 percent.